Hotel rooms and restaurants more expensive in Q2

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Reversing the recent trend, the Tourist Price Index for the second quarter of the year increased 0.92 per cent year-on-year, largely due to increases in pricing for accommodation and restaurant services, according to the most recent data from the Statistics and Census Service (DSEC).
The accommodation segment of the index saw a 9.21 percentage point increase year-on-year in the quarter, coming off of a 14.39 percentage point year-on-year drop in the first quarter. The restaurant services sector saw a 5.99 percentage point increase year-on-year in the quarter as well. However, overall the indexes for accommodation and transport and communications fell due to lower room rates and drops in airfares in the wake of the Lunar New Year holidays.
Rising prices in food, alcoholic beverages and tobacco, whose index increased 3.49 percentage points year-on-year and 1.51 percentage points from the previous quarter, coincided with an increase in accommodation and restaurant service pricing, coupled with a slight increase in the index for entertainment and cultural activities, which only increased 0.58 percentage points year-on-year in the quarter.
In the first half of the year, the Tourist Price Index underwent a 2.4 percentage point drop year-on-year, while over the four quarters ended June 30, the index fell 3.22 percentage points, with notable decreases in the cost of transport and communications and accommodation, according to the data.
Increased prices for handbags and the arrival of summer clothing drove up the price index of clothing and footwear by 3.65 percentage points quarter-to-quarter, despite the index still undergoing a 10.43 percentage point decrease year-on-year in the quarter.